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Next Politics & Policy Article MILAN, Italy - Three big European mass-market carmakers--Germany's Volkswagen, Italy's Fiat and France's Peugeot-Citroen--staved off the impact of higher gas prices and skyrocketing raw materials costs to post higher profits Wednesday even amid growing economic uncertainty. PSA Peugeot Citroen Chief Executive Officer Christian Streiff addresses reporters during a press conference held in Paris, Wednesday July 23, 2008. PSA Peugeot-Citroen reported a 49 percent increase in net profit in the first half after the French auto maker's recovery plan delivered deeper cost cuts than analysts expected. (AP Photo/Remy de la Mauviniere) Peugeot-Citroen managed a 49 percent increase in first-half net profit, which analysts credited to successful cost-cutting. While European car sales have been stalling,... [read full story]
